Yuga Labs Acquires Tokenproof to Drive Crypto and NFT Adoption

Yuga Labs has acquired web3 tokenization provider tokenproof, a move aimed at driving crypto and NFT adoption. The acquisition was announced by tokenproof founder and CEO, Fonz O, on December 3.

As part of the integration, a portion of the tokenproof team will join Yuga Labs’ research and development division, The Workshop. Fonz O expressed his confidence in the transition, stating, “Thanks to our years of partnership, this transition will be seamless.”

A History of Collaboration

Yuga Labs and tokenproof have collaborated on numerous projects since 2022. Fonz O cited Yuga Labs’ annual event, ApeFest, as the inspiration behind building an infrastructure to verify non-fungible token ownership in the real world.

“While I will not be transitioning to Yuga Labs, I am not leaving this space. I have an unwavering commitment to web3, and I’m looking forward to continuing to hang out and attending ApeFest as an ape again.”

What’s Next for Tokenproof and Yuga Labs

Yuga Labs co-founder and CEO Greg Solano stated that the integration between the two companies will bring about “a bunch of exciting stuff to make crypto and NFTs more accessible.” The tokenproof team will join Yuga Labs’ R&D division, The Workshop, following the acquisition.

Tips for investors and enthusiasts:

  • Stay informed about the latest developments in the crypto and NFT space.
  • Look out for exciting new projects and collaborations from Yuga Labs and tokenproof.
  • Consider the potential impact of tokenproof’s technology on the web3 ecosystem.

For more news and updates on the crypto and NFT space, visit Global Crypto News.

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